Shares of CEAT today closed at Rs1142 per share, up by Rs.13.40 from the previous closing on the NSE. CEAT, the flagship company of RPG Enterprises, is a tyre manufacturer having a strong presence in global markets. The company reported financial performances. According to the numbers, Net revenue from operations increased 17pc year-on-year) to Rs 1,978.5 crore during the quarter. Raw material costs rose by 6pc to Rs 1,059.20 crore in Q2 FY21 as against Rs 995.60 crore in Q2 FY20.
Eearnings before interest, taxes, depreciation, and amortization jumped to Rs 305.80 crore in second quarer September 2020 from Rs 175.20 crore in Q2 September 2019. Earnings before interest, taxes, depreciation, and amortization margin stood at 15.5% as on 30 September 2020 as against 10.4% as on 30 September 2019. Profit before tax spurted 144% to Rs 180.7 crore in Q2 FY21 as against Rs 74.20 crore in Q2 FY20. The company's debt and equity ratio stood at 0.59x in Q2FY21 lower than 0.64x in Q2FY20.
Ceat informed about the appointment of Priya Nair as an additional director in the capacity of independent director for a term of five years effective from 27 October 2020, based on the recommendations of the nomination and remuneration committee and subject to approval of appointment by the shareholders of the company.
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